Deputy Majority Leader and Member of Parliament for Cape Coast South, George Kweku Ricketts-Hagan, has described the newly established Gold Board as a major turning point for Ghana's economy.
Speaking on the floor of Parliament, the MP said Ghana is finally beginning to take bold steps to fix its economy after years of financial struggles.
According to him, Ghana has been producing gold for decades, yet it has not built strong reserves like countries that do not even mine gold.
Follow us on WhatsApp | LinkedIn for the latest headlines
He noted that such countries are now lending money to Ghana, which shows how poorly the country has managed its natural resources in the past.
Related Articles
- GSE seeks approval for ten viable SoEs to be listed on Accra bourseNovember 10, 2023
- 5,000 accounting officers train in int'l programmeJanuary 21, 2021
"For 70 years, we've never backed our economy with gold reserves. Countries that don't mine gold have reserves in their central banks, but we, who produce gold, don't. This is the change the Gold Board brings," he said.
Mr. Ricketts-Hagan praised the efforts of President John Dramani Mahama and the finance minister, Dr. Cassiel Ato Forson, saying they were helping to reset the economy and fix past mistakes.
He explained that the recent strengthening of the Ghana cedi is a sign that the economy is being fixed.
"When you hear people say the cedi is strong and you don't understand why, go to the Ministry of Finance and ask," he said.
The MP also criticized members of the previous administration, accusing them of doing little during their time in office.
"They were in government for eight years and achieved so little. That's why Ghanaians showed them the exit," he stated.
Mr. Ricketts-Hagan ended his remarks by urging the opposition to accept that the economy has changed.
He said the days of poor economic management were over and that Ghana was on a new path of recovery and stability.
"This is not just talk. Things have truly changed. The Gold Board is helping us reset the economy, and it's never going back to what it used to be," he confidently stated.
The Gold Board was set up as part of efforts to improve the management of Ghana's gold resources and strengthen the country's economic foundation.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
